Ch. 12 lecture notes

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School

University of Toronto Mississauga

Department

Psychology

Course

PSY270H5

Professor

Christine Burton

Semester

Summer

Description

Chapter 12: decision making and reasoning June 16 25-30% of the exam chapters 11 and 12 Decision making Classical Decision Theory -made 3 assumptions (this model is too harsh, doesnt take into account intricacies of human decisions -sensitive to little differences between options -knew all the options available -fully rationally made final choice -Goal was to maximize their final Choice ____stats theory (or something like that) -Maximize pleasure and avoid pain -Calculate subject utility and subjective probability -utility (looking at how useful something is) -subjective probability (how likely something may or may not be) -CON: says were doing difficult calculations in our head all day -PRO:Says that when two people make the same decision can result in differences -PRO:each persons makes their own decision depending on own personal assessments and come to different decisions -follow up: 5 factors Satisficing: suggests that we consider our options and once we find an option that meets our minimum satisfaction we take that first option. Rational. Sometimes we have to broaden or narrow or criteria to find an answer. www.notesolution.com